Sometimes you can get that problem if you're importing 12-bit audio and the computer thinks its 16-bit audio.
I don't know much about elements, but you need to figure out how to set it to capture the footage in the same bit rate as it was recorded. Chances are your camera recorded it in 16-bit, so confirm that from the cameras settings and re-capture the audio once you have told your software the appropriate bit rate. The other less common problem which I have seen occur with mini dv cameras and other tape cameras, is that the firewire interface gets damaged by high voltage shocks (a result of hot swapping) and puts the audio out of sync.

Actually we have about a dozen cameras here all with fried firewire interfaces caused by hot swapping. They've all been affected in the same way by different computers and there are several models. If you read the manual of nearly any camera it will tell you to turn off the camera and/or computer before connecting/disconnecting. Apparently it's a design flaw of firewire. There is actually a guy in our local area how makes quite a cash cow repairing them.

In contrast to this, I have a firewire capture device (AVDC100) that specifically states in bold that the device should be powered down before connection. It suggests that otherwise a power surge could fry the circuitry. I've also been told by technicians that poor firewire cables can potentially cause the fault. Now this may indeed be an urban myth, but one perpetuated by technicians at manufacturing firms!

This is in the same box as that windows thing ' stop all programs befor continuing with install ' - yea rgiht - like anyone does that - or do they ???

Honestly Mark, nothing sinister there! Some dlls (or other shared files) that need repacing or updating may be used by a programme currently running. If they are in use, they will be locked and the rlevant files cannot be updated, re-registered or otherwise accessed.

Firewire can be dangerous to your gear and you shouldn't hot-swap. It does make sense to turn off the camcorder before disconnecting. It's a bit like crossing the road with your eyes shut, most of the time nothing will happen but...

I have fried a firewire board in my laptop when I simply unplugged my firweire-connected mixer. It didn't cost a fortune to repair (about £50. including parts, if I remember) but there was all the aggro of wondering what it has also damaged and taking it to the shop, etc etc.